PACCAR (NASDAQ:PCAR) Shares Gap Down to $113.64

PACCAR Inc (NASDAQ:PCAR - Get Free Report)'s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $113.64, but opened at $108.00. PACCAR shares last traded at $106.72, with a volume of 1,723,589 shares.

Analysts Set New Price Targets

Several research analysts have recently weighed in on PCAR shares. Bank of America upgraded PACCAR from an "underperform" rating to a "neutral" rating and increased their price target for the stock from $84.00 to $97.00 in a research note on Friday, January 19th. JPMorgan Chase & Co. lifted their price objective on shares of PACCAR from $135.00 to $140.00 and gave the company an "overweight" rating in a research note on Monday, April 15th. TD Cowen boosted their price objective on PACCAR from $91.00 to $108.00 and gave the company a "market perform" rating in a research note on Wednesday, January 24th. Royal Bank of Canada assumed coverage on PACCAR in a research report on Tuesday, March 26th. They set a "sector perform" rating and a $123.00 price objective on the stock. Finally, UBS Group raised PACCAR from a "neutral" rating to a "buy" rating and upped their price target for the company from $104.00 to $136.00 in a research report on Friday, March 15th. Eight investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $113.08.

PACCAR Price Performance

The stock has a market capitalization of $55.60 billion, a PE ratio of 12.04, a PEG ratio of 1.68 and a beta of 0.92. The company has a current ratio of 2.40, a quick ratio of 2.21 and a debt-to-equity ratio of 0.54. The firm's 50-day moving average price is $116.69 and its 200-day moving average price is $102.18.

PACCAR (NASDAQ:PCAR - Get Free Report) last announced its earnings results on Tuesday, April 30th. The company reported $2.27 earnings per share for the quarter, beating the consensus estimate of $2.20 by $0.07. The business had revenue of $8.24 billion for the quarter, compared to the consensus estimate of $8.25 billion. PACCAR had a net margin of 13.10% and a return on equity of 33.17%. The business's revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.25 earnings per share. On average, equities analysts forecast that PACCAR Inc will post 8.21 EPS for the current fiscal year.

PACCAR Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 6th. Shareholders of record on Thursday, February 15th were paid a $0.27 dividend. The ex-dividend date of this dividend was Wednesday, February 14th. This represents a $1.08 annualized dividend and a yield of 1.02%. PACCAR's dividend payout ratio (DPR) is 12.31%.

Insider Activity

In related news, VP Todd R. Hubbard sold 4,829 shares of the business's stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $102.12, for a total value of $493,137.48. Following the completion of the transaction, the vice president now owns 5,726 shares of the company's stock, valued at approximately $584,739.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, VP Todd R. Hubbard sold 2,000 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $106.15, for a total value of $212,300.00. Following the completion of the transaction, the vice president now owns 5,726 shares of the company's stock, valued at $607,814.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Todd R. Hubbard sold 4,829 shares of PACCAR stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $102.12, for a total transaction of $493,137.48. Following the sale, the vice president now directly owns 5,726 shares in the company, valued at approximately $584,739.12. The disclosure for this sale can be found here. Insiders have sold 66,946 shares of company stock worth $7,003,148 in the last quarter. Corporate insiders own 2.02% of the company's stock.

Institutional Trading of PACCAR

A number of institutional investors and hedge funds have recently bought and sold shares of the business. PSI Advisors LLC purchased a new stake in PACCAR during the 1st quarter worth about $25,000. OFI Invest Asset Management purchased a new stake in PACCAR in the third quarter valued at approximately $26,000. AdvisorNet Financial Inc raised its position in PACCAR by 188.5% in the 4th quarter. AdvisorNet Financial Inc now owns 277 shares of the company's stock valued at $27,000 after purchasing an additional 181 shares during the last quarter. YHB Investment Advisors Inc. purchased a new stake in shares of PACCAR in the first quarter valued at about $27,000. Finally, ST Germain D J Co. Inc. grew its stake in shares of PACCAR by 61.9% in the 3rd quarter. ST Germain D J Co. Inc. now owns 340 shares of the company's stock valued at $29,000 after purchasing an additional 130 shares during the last quarter. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

PACCAR Company Profile

PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Canada, Europe, Mexico, South America, Australia, and internationally. It operates through three segments: Truck, Parts, and Financial Services. The Truck segment designs, manufactures, and distributes trucks for the over-the-road and off-highway hauling of commercial and consumer goods.